Mortgage and Financial News From 2008-2-19 Page 16

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• Beware the Lure of Long-Term Care Insurance Policies Funded by Reverse ...

  Forbes - Unlike a traditional home mortgage or a second trust deed, no repayment is required with a reverse mortgage until the borrower(s) no longer use the home as their principal residence. "Betting your house on an insurance policy can backfire and leave ...
  2008-02-19 02:05:00

• Bernanke Turns Notes Into Losers as Refinancing Rises (Update3)

  Bloomberg - Consumers taking advantage of lower borrowing costs have pushed the Mortgage Bankers Association's refinancing index to its highest level since March 2004. Ten-year notes fell 4.83 percent in April 2004 as the extra cash homeowners pocketed from ...
  2008-02-19 06:23:00

• U.S. Stock-Index Futures Advance; European, Asian Shares Climb

  Bloomberg - Dinallo told a congressional hearing last week that the bond insurers may need to be split after losses on subprime mortgage securities threatened the credit ratings on more than $1 trillion of insured municipal debt. American ...
  2008-02-19 06:23:00

• Few places to turn for careful investors

  Chicago Tribune - The cruelest aspect of the credit crunch is the way it is snaring the good guys, the people trying hard to be careful. Perhaps you never speculated on real estate and have been on time with every mortgage payment since you bought your home. Maybe you ...
  2008-02-19 06:23:00

• Unthinkable housing solutions thinkable

  Reuters - Most efforts to date have been muscle-bound versions of traditional homeownership-preservation programs: borrower counseling, mortgage rate reductions, and, when the loss of a home seems almost certain, a halt to foreclosure to buy time. The U.S ...
  2008-02-19 09:51:00

• Merrill's Lipsay Departs in Fixed-Income Overhaul, People Say

  Bloomberg - Chief Executive Officer John Thain, 52, who joined Merrill in December following the ouster of Stan O'Neal, is retooling the fixed-income business after mortgage-related losses last year saddled the third-largest U.S. securities firm with a $7.8 ...
  2008-02-19 09:15:00

• MBIA Former Chief Returns as Credit Rating Cut Looms (Update6)

  Bloomberg - Brown, 59, said in an interview today that the world's largest bond insurer may separate its municipal business from guarantees on subprime-mortgage securities, which caused a net loss of $2.3 billion last quarter. Gary Dunton, who succeeded Brown as ...
  2008-02-19 09:43:00

• How to tell if now is time to refinance

  MSNBC - Other borrowers with spotty credit or job histories, and those facing adjustable rate mortgage resets or living in a home that’s lost value, will have a harder time refinancing and may face difficult repercussions for failing to do so. Wondering if ...
  2008-02-19 09:51:00

• A&L, Abbey, Coventry and Godiva to pull 125% mortgages

  Times Online - Mortgage lenders are set to stop selling 125 per cent home loans in a move which could leave thousands of homeowners in dire straits. The fallout from the credit crunch and stalling house prices have forced three high street lenders to stop offering ...
  2008-02-19 10:19:00

• Obama arrives in Texas

  Fort Worth Star-Telegram - SAN ANTONIO -- Illinois Sen. Barack Obama brought his presidential campaign to Texas today, promising to crack down on home mortgage lenders who prey on working-class Americans, saying he's the candidate to take on the special interests. In a ...
  2008-02-19 09:51:00

• Salvation Army Red Kettles Set New Record Nationally

  Forbes - We were pleasantly surprised by this year's total considering the increasing need we're seeing given the home mortgage crisis, rising prices for home heating oil, and the state of general economic uncertainty," said Major George Hood, National ...
  2008-02-19 07:56:00

• Pittsburgh Hospital Redeems `Loan Shark' Auction Debt (Update2)

  Bloomberg - The bonds go to the bidder willing to accept the lowest rate, or remain with current holders and pay the maximum, or so ... We're stuck in a position where high interest rates are costing us half a million a week,'' Heppenstall said. ``So we came up ...
  2008-02-19 09:29:00

• In home foreclosure, if it's not nailed down ...

  St. Petersburg Times - But foreclosures are such an explosive growth industry in the Tampa Bay area - hundreds of properties enter the mortgage default pipeline each month - that home stripping affects scores of properties. "She even took my shower rod and coffee pot ...
  2008-02-19 08:53:00

• KHD Humboldt Wedag International Ltd Wins US $119 Million in New ...

  Forbes - These assumptions, which include management's current expectations, estimates and assumptions about certain projects and the markets the Company operates in, the global economic environment, interest rates, exchange rates and the Company's ability to ...
  2008-02-19 04:36:00

• UK mortgage lenders to end 125 pct mortgages

  Forbes - LONDON (Thomson Financial) - UK mortgage lenders are set to end their 125 pct home loan schemes this week, in reaction to difficult market conditions. Alliance & Leicester and Coventry Building Society have both said that they will be ending the ...
  2008-02-19 10:34:00

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